CAMBRIDGE, MA-A biopharmaceutical firm has inked a long-term expansion lease for 23,199 sf of lab space at the Cambridge Science Center. The agreement gives the company a total of a total of 63,329 sf of lab and office space in the 245 First St. complex.
The expansion by CombinatoRx Inc. brings occupancy in the two-building, 130,512-sf property to 90%, Maryann Gilligan Suydam, senior vice president of Equity Office's Boston Region, tells GlobeSt.com. "We continue to see the biotech industry strengthen. We're beginning to see signs of more internal growth by our existing customer base, and positive net absorption in this market segment."
The complex, comprised of an 18-story office tower and a six-story laboratory building, is located a short distance from Kendall Square. CombinatoRX, which occupies office space on the 16th floor and lab space on the third and fourth floors, is the building's largest tenant. Terms of the lease were not disclosed.
Negotiations were handled for the tenant by Steve Purpura, with Richards Barry Joyce & Partners in Boston. The property's owner, Equity Office, was represented by Duncan Gratton, managing director of leasing for the firm.
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